Annual Report 2007

Annual Report 2007 年報 115 24. Financial Instruments (Continued) b. Financial risk management objectives and policies The Group’s major financial instruments include available-for- sale investments, trade and other receivables, amounts due from (to) related parties, pledged bank deposits, bank balances and cash and trade and other payables. Details of the financial instruments are disclosed in respective notes. It is, and has been throughout the year, the Group’s policy not to enter into trading of financial instruments including derivative transactions. The risks associated with these financial instruments and the policies on how to mitigate these risks are set out below. The management manages and monitors these exposures to ensure appropriate measures are implemented on a timely and effective manner. Credit risk The Group’s maximum exposure to credit risk which will cause a financial loss to the Group due to failure to perform an obligation by the counterparties is arising from the carrying amount of the respective recognised financial assets as stated in the Group’s consolidated balance sheet. In order to minimise the credit risk, management has delegated a team responsible for the determination of credit limits, credit approvals and other monitoring procedures to ensure adequate impairment losses are made for irrecoverable amounts. In this regard, the directors of the Company consider that the Group’s credit risk is significantly reduced. The credit risk on liquid funds is limited because the counterparties are banks with high credit ratings. The Group has no concentration of credit risk, with exposure spread over a large number of counterparties and customers, with different geographical location. There has been no change to the Group’s exposure to credit risk or the manner in which it manages and measures the risk. 24. 金融工具（續） b. 財務風險管理目標及政策 本集團的主要金融工具包括可供出 售投資、貿易及其他應收款項、應 收（付）關連人士款項、已抵押銀行 存款、銀行結餘及現金和貿易及其 他應付款項。金融工具詳情載於相 關附註。年內，本集團的政策為不 訂立金融工具交易，包括衍生工具 交易。 與該等金融工具相關的風險，以及 減輕該等風險之政策載列如下。管 理人員負責管理及監控該等風險， 確保及時採取有效政策。 信貸風險 因交易對手未能履行責任導致本集團承 受財務虧損的最大信貸風險，乃來自本 集團綜合資產負債表所列各項已確認金 融資產賬面值。 為減低信貸風險，管理人員委派團隊負 責釐定信貸限額、審批信貸及其他監控 程序，確保為不可收回金額計提足夠減 值虧損。因此，本公司董事認為本集團 的信貸風險已大大降低。 由於交易對手均為信貸評級良好的銀 行，故有關流動資金的信貸風險有限。 由於本集團有來自不同地區的大量交易 對手及客戶，故並無集中的信貸風險。 本集團的信貸風險或管理及界定風險的 策略並無改變。